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 How do I deal with a real estate agent who won't return phone calls and fails to show at an open house? |
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chidordon | Why are real estate agents unwilling to work with me? |
I want to spend under $30,000. Some agents won't call me back. Other ones take their time calling me back, or don't have time to show houses to me. I feel like I'm missing the chance to look at properties that were just listed. I'm a 1st time home buyer and new at this. Are agents just very busy because of the housing market? (I'm in Michigan where there's a recession). I'm very polite and friendly, and willing to do most of the searching on my own. Thanks for any help. mi |
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Cat
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Because it's not going to be worth their while. They will spend the same amount of time selling a $150,000 home, and they'll make five times as much.
Just go looking for the houses yourself. Call the seller's agent directly and ask for a showing. You don't have to have a buyer's agent to buy a house. |
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Real Estate Guy
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I would guess it's the price range. On a 30k house, the agent may make $400. On a 300000 house they can make 4000. The amount of time spent with you is the same, so are the costs. After they pay for gas and time and taxes. They may break even. |
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Louisa
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If you are pre-approved (and you have a valid letter saying so from the lender), you just have to keep looking until you find someone willing to work with you.
There are alot of flaky buyers out there and that's why realtors won't work with you.
Show them you are serious by signing a short-term buyer agency agreement.
PS- the agents commission on 30k is about 900 (3%) not 400. And it's not about the commission. As an agent, I sold plenty of 30-40K homes and even worked with renters and people with credit challenges. It's about the buyer's seriousness and commitment to actually buying, and not using the agent just to browse houses. |
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Boo
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Is there even a house out there that only cost $30,000? Perhaps you should do a little research online and checkout the market first. |
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Weimaraner Mom
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It probably has nothing to do with your personally. It might have to do with the fact that your looking for a home for under $30K. Most agents probably do not have any listings for homes under $30K and you might be looking at a mobile home which they don't deal in. So they probably feel that you might be wasting their time. They are thinking that they will have to do all this work to try and find something and will make less than $1000 for their effort so it's probably not worth it to them if you aren't buying a home worth at least $100K. Like you said it's a recession they will only work hard if it is worth it to them. |
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estielmo
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You can barely buy a CAR for under 30,000. I wouldn't call you back either.
How much is your salary and how much do you have saved? How good is your credit? |
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very important pig club
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There are almost no houses anywhere for under $30,000. And the commission on that is horrible. Depending upon the realtor and what is standard in your area they will make less than $1000 (possibly less than $500). Why should they spend a huge amount of time and their money for that amount. You might need to look online yourself, go look at homes yourself, etc. But honestly, I don't know where you're going to find a house that cheap. |
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vlvtnrbt
 |
Are there any $30,000 houses?
They can't sell what "they ain't got"
Chances are if there are any they are for sale by owner, and you get to spend the commission costs , on materials to educate yourself to do their job. |
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Gary Smith, Realtor®
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chidordon, There are many agents in southeastern Michigan that are trying to stay in business with leases, so the price range is not an issue.
It has been my experience that lenders do not lend below $35,000 so if you are not providing proof of funds or a pre-approval letter requiring only a final credit check that agents do not consider you a serious buyer.
Another problem may be the type of housing your looking for. By that, I mean properties that do not meet minimum Fannie Mae or Freddie Mac guidelines and therefore are not lendable. This is frequently the case with some foreclosures. Agents have learned not to waste their time working on these homes because the buyer cannot get a mortgage.
I would agree, signing a Buyers Agency contract would be the correct course of action. In Michigan, only a Buyers Agent can reprisent your best interests. A Buyers Agency contract can be signed for one home, one day, one week, etc... |
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Leo F
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I read all the answers from all the RE agents, and all of them think it not worth their time to show homes in this price range. ITS THEIR JOB!!! Trust me their not that busy and a lot of them has had to get a 2nd job to pay their bills. You would think a $500-$1000 is better than no fee. Find a new agent that just got his or her license and I'm sure they would be glad to show you homes. The agents that have been around for a while have BIG DEALIDES and they think they are too good to sell cheep prop. |
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Dawni Do Right
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I don't mean this in a bad way, but if you find one that is willing to be sincere with you, ask them if your expectations in finding a home under $30,000 are realistic for your market area. It may be that you aren't & they just won't come out & say it or hurt your feelers.
Although there may in deed be homes in that price range, it may be that those homes are not financable & you will need to obtain financing to buy one. Often a catch 22 and that is why none are willing to spend time showing them because a bank would never finance them.
Make a few calls also & get pre-approved so you know you are shopping in the right price range. Perhaps if you upped a little, $10,000 or $20,000 may mean the difference an unfinancable house & one that is.
Personally, I work just as hard for $1000 as I do for $5000. Often houses in lower ranges, mobile homes in parks and land offer 5% as opposed to the norm of 3% - 3.5%. |
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JD
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Try calling the agency that listed the property. I usually wouldn't recommend this but I know they would be willing to show the house! |
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